Baltika makes its shareholders a proposal to increase the share capital of AS Baltika by issuing additionally three million one hundred fifty thousand (3 150 000) ordinary shares with the nominal value of 0.70 euros with the issuance price of one euro. The company will use the money, raised from the emission, for financing future growth.
Baltika is in co-operation with international creative agency “Dan Pearlman” developing and renewing its two biggest brands, Monton and Mosaic, including new store concept for both brands. Based on the new concepts, the company will gradually upgrade existing stores and is planning new store openings.
German agency Dan Pearlman, chosen to be the co-operation partner for the project, has very strong portfolio in fashion industry. The agency has done co-operation with brands like Campus by Marc O´Polo, Betty Barclay, Pimkie, 361°, Tally Weijl, Colin´s, Escada, New Yorker, Street One, Adidas, Puma, Reebok.
The Group will also finance its new development projects like Monton e-store, shop-in-shop and franchise concepts. Additional money, raised from the emission, will help the Group to guarantee financing buying of inventory quantities corresponding to increasing sales.
Maigi Pärnik
Member of the Management Board